Aberdeen Standard Investments is to sell the current historic Danish headquarters of Denmark’s Danske Bank.
The investment manager has mandated CBRE to sell the 49,000 m2 investment on Holmens Kanal in Copenhagen which is being marketed as a value-add opportunity. ASI and CBRE declined to comment.
The bank is believed to be planning to move out of the space which spans 14 historic buildings in the centre of the city.
The whole complex includes the 14 connected properties and some parking at Holmens Kanal 2-18, Vingårdsstræde 3, Laksegade 6-8 and 7-11, Asylgade 1 and Bremerholm 37.
‘This is big deal for Copenhagen. With the short leases it is a re-purposing opportunity for a buyer’, a source said.
ASI has owned the complex for almost four years, buying it as Standard Life before the merger with Aberdeen in a sale and leaseback transaction.
Standard Life paid DKK1.4bn in March 2016, circa €180 mln, but the asset is expected to sell this time for a considerably higher figure.
Danske Bank has had operations on the site since 1875. The complex includes landmark historic buildings such as Erichsen’s Mansion.
Danish asset manager Capital Investment is advising on the redevelopment, and presented plans last week to interested parties which include open shops on the ground floor with housing and business space on the upper floors, primarily in the form of smaller premises.
Capital Investment was set up by Jesper Damborg and Claus Klostermann who previously worked together at other property firms including Saxo Properties.
Copenhagen, along with other Nordic cities, is attracting record investment. This week, PSP Investment Board of Canada and Aviva Investors announced the acquisition of a 24,500 m2 mixed-use block in the Danish capital called Galleri K.
Patrizia sold the office, retail and leisure building which is located at the corner of Østergade and Kristen Bernikows Gade.